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  • Bills Country

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      the Kyler Murray photo    Did we get this right?  
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      Terry Pegula transferred small percentage of Bills to daughter Laura Pegula     </snip>   Three days after Kim became Terry’s ward, Laura Pegula, Terry’s daughter from his first marriage, represented the Bills at NFL owners’ meetings in Phoenix. Shortly thereafter, The Athletic learned, Terry transferred a small percentage of the Bills to Laura to satisfy a league policy that aids in succession planning.     </snip>   Laura, 41, has long been involved in what the Pegula family refers to as the “home office” — the core petroleum businesses that made Terry a multi-billionaire. She graduated from the University of Pittsburgh with a geology degree and is an executive with JKLM Energy (named for Laura and her three half-siblings: Jessica, Kelly and Matthew).   The Pegula children have always been visible around the teams, but Laura has become a more conspicuous presence over the last year. She recently sat in on executive Q&A sessions with rank-and-file Bills and Sabres employees. When commissioner Roger Goodell delivered his annual state of the NFL address last month in Orlando, Laura represented the Pegulas while Terry sat near the lobby bar with Scott Radecic, senior principal of Bills stadium architect Populous. Laura was the only Pegula child in attendance on April 24 for the Sabres’ introduction of new head coach Lindy Ruff, standing next to her father in the photo op.   To ensure the most efficient succession plans possible, the NFL discourages franchise ownership by a single person. For decades, majority owners had to maintain control of at least 51 percent of the team, but the threshold has been continually throttled down over the years, with a “controlling family” now required to own at least 30 percent and individual family members allowed to own as little as 1 percent.   Each May, teams are required to file an updated succession plan that must be approved according to established league guidelines. An NFL source who has been involved in succession planning says to be compliant teams are required to designate a successor with a controlling interest, an effort to make any transition smoother and curtail potential family infighting.     </snip>
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      Nearly two years after she suffered a debilitating heart attack, Kim Pegula is still listed as a co-owner of the Buffalo Bills and Buffalo Sabres alongside her husband, Terry. The Pegulas used to own the Bills 50-50, but that is no longer the case.     Palm Beach County Circuit Civil Court documents show that on Feb. 13, 2023, Terry Pegula filed to have Kim ruled incapacitated and to be made her guardian. A panel of three court-appointed examiners recommended incapacitation, and on March 23, 2023, a judge named Terry the “plenary guardian of the person and property” of his wife.   The documents also show that many of Kim’s assets have been placed in a trust, with Terry and longtime petroleum business collaborator Bob Long listed as co-trustees.   “The court has determined that the ward lacks capacity to handle all of their affairs, and everything that can be delegated has been delegated to someone else,” said Stacy Beth Rubel, chairperson of the Florida Bar’s guardianship, power of attorney and advance directives committee.   “Kim is not coming back” to the Bills or Sabres front office, a longtime Pegula family associate briefed on her condition and prognosis said.     </snip>
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